Parag Parikh Financial Advisory Services Ltd
Parent of PPFAS Mutual Fund, whose Flexi Cap fund drove AUM past ₹1 lakh crore; FY25 profit ₹247 Cr, up 43%.
Market cap
₹15,974 Cr
0.77 Cr shares
P/E ratio
64.78
Sector average 35
Book value
₹874.58
P/B 23.78
1-year return
+11.19%
52w ₹16,640 – ₹26,000
Currently 44% of the way through its 52-week range.
Indicative price history
1Y change
+11.77% ₹18,610 → ₹20,800
52-week band in this window: ₹18,609.97 – ₹22,076.46. Weekly indicative marks, not exchange-traded prices.
Key highlights
- PPFAS Mutual Fund AUM ₹1,06,357 Cr at March 2025, up 55% in a year and triple the March 2023 level.
- FY25 revenue ₹429.05 Cr (+72%) and PAT ₹246.60 Cr (+43.5%); EPS about ₹321.
- About 76.8 lakh shares; ₹20,800 rate implies roughly ₹16,000 Cr market value.
About PPFAS
Parag Parikh Financial Advisory Services Ltd (PPFAS) is the holding company of PPFAS Asset Management, sponsor of PPFAS Mutual Fund, and also runs a portfolio-management business. Founded by the late Parag Parikh, whose broking practice dates to 1983, the company was incorporated in 1992 and is led today by his son Neil Parikh as Chairman and CEO, with Rajeev Thakkar as chief investment officer. The Parag Parikh Flexi Cap Fund is among India's largest equity schemes, and the fund house is known for its value style, low churn and a large base of SIP investors in tier-2 and tier-3 cities.
Mutual-fund AUM grew from ₹35,478 Cr in March 2023 to ₹68,453 Cr in March 2024 and ₹1,06,357 Cr in March 2025 (+55%). Consolidated revenue rose 72% to ₹429.05 Cr in FY25 (fees and commission ₹375.88 Cr) and net profit 43.5% to ₹246.60 Cr, giving basic EPS of about ₹321. Over five years revenue has compounded at roughly 87% and profit at 132%. Discretionary PMS AUM was ₹45.9 Cr and non-discretionary ₹34.7 Cr.
With about 76.8 lakh shares of ₹10 face value, the ₹20,800 rate values PPFAS at roughly ₹16,000 Cr, or about 65 times FY25 earnings and 15% of AUM — a premium to listed asset managers that reflects its growth and retail franchise. The company is closely held by the Parikh family and long-time associates; no IPO has been announced.
AUM, revenue and profit figures are from the FY25 annual report and dealer research; FY23 profit, net worth and balance-sheet line items are reconstructed around reported totals; treat them as approximate. The CIN was not visible in search snippets and is left blank; the incorporation date is approximate.
Where the revenue comes from
- Mutual fund management fees85%
Investment-management fees from PPFAS Mutual Fund schemes
- PMS & advisory3%
Discretionary and non-discretionary portfolio management
- Treasury & other income12%
Returns on the company's own investments
Products & services
PPFAS Mutual Fund
Flexi Cap, Tax Saver, Conservative Hybrid, Dynamic Asset Allocation, Arbitrage and Liquid funds.
Portfolio management
Discretionary and non-discretionary PMS for HNIs.
Investor education
Long-running value-investing outreach and unit-holder meets.
What works
- • Flagship Flexi Cap fund with a loyal SIP base; AUM tripled in two years to over ₹1 lakh crore.
- • Extremely high operating leverage — revenue up 72% and PAT up 43% in FY25 with net margins near 57%.
- • Founder-led, debt-free and conservative culture; 'skin in the game' with employees investing in the schemes.
What to watch
- • Concentration in one flagship fund and one style — a prolonged period of underperformance could reverse flows quickly.
- • SEBI's expense-ratio slabs reduce fee yield as AUM grows, capping revenue growth relative to assets.
- • Valuation of ~65x earnings and thin unlisted liquidity (lots of 50–100 shares at ₹20,000-plus each).